In early May I surveyed 33 senior executives from 33 separate mortgage companies about a myriad of issues and topics both germane and important to the mortgage banking industry. It was the 25th time such a survey was conducted by me since 2008. Until 2020 the surveys were conducted face to face at the MBA National Secondary Market Conference every May and again in October at the MBA’s Annual Convention. However, the pandemic has shifted both sets of contacts to the telephone last year and this.
Category: News and Trends
To the Point with Bob–IMBs and the CRA: A Misguided Match
In this edition of To the Point with Bob, MBA President & CEO Robert Broeksmit, CMB, says while the Community Reinvestment Act serves an important policy objective, it is inappropriate to apply it to independent mortgage banks.
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“Mark [Jones] is a fierce advocate for mortgage lenders and their customers, and I am pleased to welcome him to MBA’s leadership ladder. He is an industry trailblazer and a valuable voice for sustainable, affordable housing and communities across the country, making him a terrific fit to lead MBA and its members.”
–Susan Stewart, MBA 2021 Chair and CEO of SWBC Mortgage, San Antonio, Texas, on Mark Jones’ nomination as 2022 MBA Vice Chairman.
Industry Briefs May 28, 2021
Enact Holdings Inc., Raleigh, N.C., a provider of private mortgage insurance through its insurance subsidiaries, introduced its new brand and visual identity. Formerly known as Genworth Mortgage Holdings Inc., Enact is a wholly owned operating subsidiary of Genworth Financial Inc.
Jim Rosen: Why Now is the Time for eClosings
When it comes to closing, there are lots of moving parts involved that have traditionally been in person or on physical paper. However, things had to change rapidly. Although a challenge in the beginning, it has also presented a large opportunity and given borrowers and lenders more flexibility in how they complete tasks.
To the Point with Bob–IMBs and the CRA: A Misguided Match
In this edition of To the Point with Bob, MBA President & CEO Robert Broeksmit, CMB, says while the Community Reinvestment Act serves an important policy objective, it is inappropriate to apply it to independent mortgage banks.
Sublease Space Weighing Office Market Down
Office vacancy rates have risen significantly since the pandemic hit. Yardi Matrix, Santa Barbara, Calif., reported one big reason for the spike: nearly every market has seen sublease space available jump.
Dealmaker: Hines Global Income Trust Acquires D.C. Office Asset for $216M
Hines Global Income Trust, Houston, acquired 1015 Half Street, a 396,000-square-foot Class A office asset in Washington, D.C.
One-Third of Millennial Homebuyers Using Extra Savings from Pandemic for Down Payment
For nearly one-third (31%) of millennial first-time homebuyers, the ability to save extra money during the coronavirus pandemic helped them accumulate the money needed for a down payment, said Redfin, Seattle.
2nd Quarter ‘Zombie’ Foreclosures Up 21%
ATTOM Data Solutions, Irvine, Calif., released its second-quarter Vacant Property and Zombie Foreclosure Report, showing 1.4 million residential properties in the United States were vacant in the second quarter quarter, representing 1.4 percent of all homes.